Bombay High Court Allows Appeal in Income Tax Capital Gains Case — Section 54F Deduction Computation Clarified. Investment in new asset before due date of filing return qualifies for exemption even if return is filed late....
The appellant, Humayun Suleman Merchant, sold a plot of land in Mumbai on 29th April 1995 for Rs.85,33,250/-, resulting in a long-term capital gain. To claim exemption under Section 54F of the Income ...




